what do we mean by letter of credit and bank guaranty?

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what do we mean by letter of credit and bank guaranty?

it is regarding corporate banking.

2007-03-25 19:52:38 · 2 answers · asked by ranjeetsaniya 1 in Business & Finance ➔ Corporations

2 answers

Letter of credit awards an unsecured credit account up to a limit. Companies often have these to cover overdrafts or to make sure their operating capital is sufficient for operations.

2007-03-25 22:12:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋

Try this website for information on letters of credit....

http://www.creditmanagementworld.com/letterofcredit.html

Be sure to review the glossaries and the import/export sales and payments area.

2007-03-29 13:27:58 · answer #2 · answered by pagamenews 7 · 0⤊ 0⤋